80% Of All New Home Buyers In Irvine Are Chinese | Zero Hedge

80% Of All New Home Buyers In Irvine Are Chinese | Zero Hedge:



"And here was the stunner in question: "We are seeing more globalization as Southern California has become a destination for international buyers," said Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market. "Eighty percent of new construction in Irvine last year was sold to Chinese buyers. International buyers are driving home prices up and sometimes out of reach for many local residents."

You read that right, a whopping 80% of all new housing in Irvine was bought by Chinese."



'via Blog this'